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<br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />II. FUCHS RANCHES, INC., FINANCIAL STATUS AND PHYSICAL ASSETS <br /> <br />Fuchs Ranches, Inc. is located to the southwest of the Town of <br />Del Norte, in Rio Grande County, Colorado, along Pinos Creek. Fuchs <br />Ranches, Inc. is a family owned corporation with Hugh Fuchs, <br />President, and Michael J. Fuchs, Secretary-Treasurer. The corporation <br />has the authority to enter into contractual agreements with the <br />Colorado Water Conservation Board (CWCB). The corporation also has <br />the authority to vest title to the rehabilitation project, or a por- <br />tion thereof to CWCB, if required. <br /> <br />The current financial status of Fuchs Ranches, Inc. is indicated <br />in Table 1 included with this report. Table 1 presents the current <br />balance sheet. Total assets as of January 4, 1982 were $773,130, <br />with liabilities of $259,B75, resulting in a net worth of $513,255. <br />In addition, Fuchs Ranches, Inc. has five (5) land parcels of 35 acres <br />each which are currently for sale at a price ranging from $1,000 to <br />$1,400 per acre. Through the sa 1 e of these pa rce 1 s of 1 and, Fuchs <br />Ranches, Inc. intends to use the proceeds to pay for the initial <br />50 percent of the rehabilitation costs and to reduce the overall <br />indebtedness of the corporation. <br /> <br />- 11-1 - <br />